Deswell Industries, Inc. Announces Significant New Customer Epson Precision Hong Kong Ltd.HONG n. 1. A mercantile establishment or factory for foreign trade in China, as formerly at Canton; a succession of offices connected by a common passage and used for business or storage. KONG--(BUSINESS WIRE)--October 29, 1999-- Deswell Industries today announced that it is currently working with Epson Precision Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. Ltd. to provide plastic injection, tooling and assembly services to Epson's printer division. Deswell commenced a formal relationship with Epson in August and the business has grown to be approximately 5% percent of Deswell's total sales. Management is confident that the volume of business with Epson should double within the next six months based on current indications from the customer. Epson is a mutli-national corporation, with a new manufacturing plant located near Deswell's Jetcrown subsidiary in Shenzen. Epson employs 6,000 people at their new plant and manufactures various products. Mr. Richard Lau, Chief Executive Officer of Deswell Industries, said, "We are very excited to be working with Epson, a large and established company with extremely high quality standards. Furthermore, we are encouraged about the prospect of increased future business with Epson and look forward to a long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. relationship with Epson." The Company also announced that it will announce the second quarter results in the week of November 8, 1999. Deswell manufactures injection-molded plastic parts and components and electronic products and subassemblies and metallic products for original equipment manufacturers ("OEMs") and contract manufacturers at its factories in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China. The Company produces a wide variety of plastic parts and components used in the manufacture of consumer and industrial products; printed circuit board assemblies using surface mount ("SMT (1) (Surface Mount Technology) See surface mount. (2) (Station ManagemenT) An FDDI network management protocol that provides direct management. Only one node requires the software. SMT - Station Management "), and pin-through hole ("PHT PHT Phenytoin (antiepileptic, Dilantin) PHT Pulmonary Hypertension PhT Pharmacy Technician PHT Post-Harvest Technology PHT Pattern History Table PHT Pressure Half Time PHT Public Health Trust ") interconnection in·ter·con·nect v. in·ter·con·nect·ed, in·ter·con·nect·ing, in·ter·con·nects v.intr. To be connected with each other: The two buildings interconnect. v.tr. technologies; and finished products such as telephones, telephone answering machines, sophisticated studio-quality audio equipment and computer peripherals. The Company's customers include Mita Industrial (H.K.) Limited, Namtai Electronics (Shenzhen) Co. Ltd., Inter-Tel Incorporated, Behringer Holdings (Pte) Ltd. and VTech Communications Ltd. To learn more about Deswell Industries, Inc., please visit the Company's web site at www.deswellindustries.com. |
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